As per the research report titled ‘Global Semi-Autonomous & Autonomous Truck Market Size study with COVID-19 Impact, by Sensor Type (LiDAR, Radar, Camera , Ultrasonic and Others), by Product Type (Adaptive Cruise Control (ACC), Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Intelligent Park Assist (IPA), Lane Assist (LA) and Others) and Regional Forecasts 2020-2027’ available with Market Study Report, global semi-autonomous & autonomous truck market share accounted for USD 1 million in the year 2019 and is projected to exhibit a robust CAGR of 22.4% during 2020-2027.
 

Increasing demand for logistic services for restocking stores amidst the COVID-19 pandemic along with growing focus towards enhancing road safety as well as traffic control are propelling the growth of global semi-autonomous & autonomous truck market.
 

For the uninitiated, semi-autonomous trucks are vehicles that can be operated with minimal human intervention. These vehicles sense the driving conditions of the surroundings and provide sufficient time for the driver to regain controls. They also facilitate automatic safety control and offer features such as obstacle detection and traffic maneuvering.
 

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Additionally, introduction of innovative products, advantageous attributes of the technology that compensate the shortage of drivers, and strategic mergers, alliances, and acquisitions by industry players are positively swaying the global semi-autonomous & autonomous truck market dynamics. Citing an instance, Tesla Inc. announced the launch of the Tesla Semi, an electric truck that can reach a speed of 100 kilometers an hour in 5 seconds.
 

On the contrary, growing concerns regarding data privacy and cybersecurity coupled with lack of IT and communication infrastructure in emerging countries are expected to hamper the industry expansion throughout the analysis timeframe.
 

Based on sensor type, global semi-autonomous & autonomous truck industry is bifurcated into ultrasonic, camera, radar, LiDAR, and others. With regards to product type, the market is divided into lane assist (LA), intelligent park assist (IPA), blind spot detection (BSD), automatic emergency breaking (AEB), adaptive cruise control (ACC), and others.
 

According to the regional analysis of the report, North America accounts for majority shares in global semi-autonomous & autonomous truck industry and is predicted to expand considerably through 2027, owing to increasing adoption of innovative technologies in the region.
 

Alternatively, Asia-pacific semi-autonomous & autonomous truck market is estimated to record the highest CAGR over 2020-2027.
 

Leading players that outline the global semi-autonomous & autonomous truck industry trends are PACCAR Inc., Tesla Inc., Waymo LLC, Daimler AG, Embark Inc., Aptiv PLC, DENSO Corporation, Continental AG, Robert Bosch GmbH, and The Volvo Group among others.